Could be good for a swing trade back up to the top of its range if it moves back up again which I would think it should after being caught up in the market sell off.
Keep your stops close though in case it breaks through that support area and then again when it gets close to the top of the range and bumps up against resistance.
Worth a look.
Comment
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Small move back up to that minor support / resistance area as expected.
how did you add a picture into the chart? nevermind... i figure it out.
macruzer25
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sir is coins24option is connected here?
Seandeleer
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Thx @Angusmck for the Combining Technicals & Fundamentals 20-minutes of goodness. Some great ideas. This Disney Idea is the kind of setup I like, but I've always struggled to get my Screener to identify them. Is Disney one you watch, an Alert triggered or did one of your Screeners pick it up? Any clever parameters you'd recommend using to look for recent sideways channels or pullbacks on a stock that's up over the past 12 months (discounting all parabolic moves)?
TKProphet
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Hello, do you think support will hold, or hit the150 area?
zAngus
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@TKProphet, my guess it will hold - UNLESS - the overall market drops again. Its why I would always suggest having a stop. Bit like insurance. Just in case...